Two-Family Property with Finished
For Sale
$859,000
994 Van Siclen Avenue, Brooklyn, NY 11207
Vacant legal two-family home with a finished basement, separate entrances, private parking, gas heat, and through-wall air conditioning.
Property Size2,550 SF
Price / SF$336.86
Days on Market11
Property Features for 994 Van Siclen Avenue
General Information
Standard status
Active
Size
2,550 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,780
Amenities
finished basement
through the wall air conditioning
gas heating
private parking
Building Details
Building Size
2,550 SF
Year Built
1960
Buildings
1
Listing Agency:
Compass
Listed By:
SANDRA N FRANK
(917) 282-2074
Source:
Carlinwright
Added: Sep 12
Changed: Sep 21
Last Checked: Sep 21 at 7:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This legal two-family property at 994 Van Siclen Avenue includes a finished basement and separate entrances, including a rear entry from the alley at ground level. The home will be delivered vacant, providing flexibility for occupancy by an owner, extended family, or separate household arrangements as supported by the existing configuration.
Private parking is positioned behind the property and accessed through a semi-private alley. Gas heating and through-wall air conditioning are installed throughout the home. Built in 1960, the property is located in Brooklyn, NY 11207.
Private parking is positioned behind the property and accessed through a semi-private alley. Gas heating and through-wall air conditioning are installed throughout the home. Built in 1960, the property is located in Brooklyn, NY 11207.
Key Highlights
- Legal two‑family home delivered vacant
- Finished basement with two separate entrances
- Rear basement entrance provides ground‑level alley access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,849
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,556,980
$1.6M
Cap Rate 7%
$1,112,129
$1.1M
Cap Rate 9%
$864,989
$865.0K
Market Conditions
NOI Build-Up for 2,550 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$144.4K $56.64/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$141.5K $55.51/SF
− OpEx
−$63.7K −$24.98/SF
NOI
$77.8K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,556,980
Cap Rate 7%
$1,112,129
Cap Rate 9%
$864,989
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.49M
NOI $89,305 @ 7.0% cap · market cap 10.40%
Second Best
Apartment 5plus
$1.11M
$973.1K – $1.30M
NOI $77,849 @ 7.0% cap · market cap 9.06%
Theoretical Best
Specialty Retail
$2.11M
$1.85M – $2.46M
NOI $147,798 @ 7.0% cap · market cap 17.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,865
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant legal two-family home with a finished basement, separate entrances, private parking, gas heat, and through-wall air conditioning.
Where is this duplex located?
The property is located at 994 Van Siclen Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Legal two‑family home delivered vacant; Finished basement with two separate entrances; Rear basement entrance provides ground‑level alley access
